GBP trading well despite deeply contractionary mfg PMI – Scotiabank
Source Fxstreet
Pound Sterling (GBP) is down 0.2% against the US Dollar (USD) and a mid-performer among the G10, trading relatively well despite a generally disappointing preliminary PMI release, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Trend in GBP/USD remains bullish
"The manufacturing print disappointed with a relatively deep contractionary print of 45.1 while services climbed just above the expansion threshold, printing 50.2."
"The trend in GBP/USD remains bullish, with consolidation just below Wednesday’s multi-year high. The RSI is just below 60, leaving ample room for further near-term gains. Near-term support is expected below 1.33."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
XRP price started a consolidation phase above the $2.320 zone. The price is now rising and might aim for an upside break above $2.450. XRP price started a decent increase above the $2.3650 zone. The
Gold price (XAU/USD) prolongs the uptrend for the fourth consecutive day and climbs to a nearly two-week high, around the $3,344-3,345 area during the Asian session on Thursday.
Bitcoin punches new all-time high above $111,800 following brief shock from weak 20-year bond auctionBitcoin (BTC) hit a new all-time high above $111,800 on Thursday, rebounding from a brief dip to $106,000. The surge followed weak demand in the US Treasury’s 20-year bond auction, which pushed yields above 5%, potentially shifting investor interest toward alternative assets like Bitcoin.
Bitcoin (BTC) hit a new all-time high above $111,800 on Thursday, rebounding from a brief dip to $106,000. The surge followed weak demand in the US Treasury’s 20-year bond auction, which pushed yields above 5%, potentially shifting investor interest toward alternative assets like Bitcoin.
Solana started a fresh increase from the $165 zone. SOL price is now gaining pace and might aim for more gains above the $180 zone. SOL price started a fresh increase above the $170 level against the
The Bitcoin Network Value to Transactions (NVT) Golden Cross could indicate that the asset isn’t overheated yet, despite its price marching to a new all-time high (ATH). Bitcoin NVT Golden
Related Instrument
